Shearman & Sterling represented Citadel Capital S.A.E., a leading African private equity firm headquartered in Egypt with US$9 billion in investments under its control, in relation to the refinancing of their existing corporate loan facility and the financing of two further loan facilities to be used for certain specified purposes guaranteed by the US Government’s development finance institution, the Overseas Private Investment Corporation. The financing extends to a total commitment of US$325 million by a combination of international and local financial institutions.

Citadel Capital S.A.E. is a valued client of the firm. Shearman & Sterling’s project development & finance team is currently also advising the private equity firm on their role as sponsors on the largest ever project financing in Africa, which is the Egyptian Refining Company at Mostorod, Cairo.

The Shearman & Sterling team of lawyers in the firm’s London office who assisted on this matter includes the head of the Project Development & Finance Group, Tim Pick, associates Suzanne Szczetnikowicz, Anna Duncan, Kate Kimpton and trainee solicitor Ben Burton.